Low-cost mortgages needed for all

Let’s reward homeowners for their belief in America. Want to put more money into the economy, slow foreclosures, increase jobs? All homeowners should be entitled to a 4 percent mortgage interest rate, automatically. People are struggling, and banks can’t handle the foreclosures and defaults now taking place.

Do this now, or pay the price later! Don’t let people struggle to refinance and make them qualify, with this changing economy.

They were good enough before, so why not now?

Make this automatic, before greed turns into a housing nightmare.

It’s almost here.

(By the way, I was offered half of 1 percent on my CD.)

John Kania

Arlington Heights